- The Risky Venture
- Does not have a license
- The deposit amount is huge
- The interface is not user-friendly
- Technical drawbacks
Have you embarked on the quest to hire the best binary or forex, broker? Well, if you plan to opt for GTPcapital, then we suggest that you read our complete review first. This broker was founded way back in 2016, but it is not at par with the best brokers available.
The biggest issue with GTPcapital is that it is not regulated so this is why it can be a risky choice to opt for this broker.
GTPcapital offers five different account types. This includes Trial, Basic, Trader, Pro Plus and VIP account. However, the deposit amount is massive even for the Trial account. The deposit amount for the trial account is about $500, and it can be quite difficult for a new trader to afford this amount.
Another issue with GTPcapital is that the interface is not user-friendly and this is enough to put off the user. When the site is complicated, then the navigation does become a problem for the user.
Another setback about GTPcapital is that it does not support Metatrader 4. On the contrary, this platform offers a web-based proprietary platform that has about two trading modes. These trading modes are forex and binary.
Secondly, the technical analysis indicators offered by GTPcapital are quite limited. If you are planning to use the forex feature of this platform, then you are inviting trouble your way. The reason is that this platform offers high spreads. For example, if you consider the EUR/USD pair, the most brokers offer a spread of 1.0-1.5.
However, when you trade the EUR/USD pair using the forex mode, then GTPcapital offers a spread above 3.5. Micro lot facility is not available for the Trial and Basic accounts. If you want to go for Micro lots, then you need to have a Trader, Pro Plus or VIP account.
The most alarming aspect is that if you conduct in-depth research, then you will come across negative reviews related to GTPcapital. This can be disturbing for any trader who plans to use this platform. Have a look at the review below:
The truth is that the drawbacks of GTPcapital cannot be ignored at all. The smart move will be to avoid GTPcapital in the first place.
Whenever you choose a binary or forex broker, then make sure that you can get access to a verifiable address. This way you will be sure that the broker has a legitimate physical office. Secondly, you should also see how they communicate with you.
If the correspondence is slow, then it may sound a bit suspicious. The general reputation of any broker counts at the end of the day. As discussed above GTPcapital has many complaints circulating online, so if you take the risk of signing up with this broker, then you can end up losing your money.
We recommend that you play safe and go for a broker that has been operating in the market for quite some time and has positive reviews to back its reputation.